[RP TownTalk] Fwd: FOR IMMEDIATE RELEASE

[bob smith]

Thank you for the great news. I like having a family shop in our town.
I like going in to get the stuff I want just down the street.
I will have get there and spend some cash!
thank you Pete and family!
bob smith

On 5/21/12 9:46 AM, Vernon Archer wrote:
> See below the press release for our new town center market!
>
> ---------- Forwarded message ----------
> From:
> Date: Sunday, May 20, 2012
> Subject: FOR IMMEDIATE RELEASE
> To: Jim Spiropoulos <spiro111 at aol.com <mailto:spiro111 at aol.com>>
>
>
> FOR IMMEDIATE RELEASE
>
> Town Center Market
>
> Small family-owned business is finding a way to survive and grow in 
> this economy.
> Dumm's Corner Market (renamed Town Center Market) opens in its new 
> location May 23, 2012, with a grand opening event on June 17, 2012. 
>  After 100 years at its old address, pressure from lenders, and a 
> grueling permit process, the small family owned business is expanding 
> to a modern convenience store which will be a central point in the 
> small community of Riverdale, MD.
> Prince George's County history books suggest a store opened on the 
> corner of Riverdale Road and Lafayette Avenue sometime in the early 
> 1900's.  Pete Spiropoulos purchased the store known asDumm's Corner 
> Market, along with the real estate, in December of 1988. He grew the 
> market from a small corner store, to a thriving convenience store in 
> the suburban community of Riverdale.  A rarity these days, the market 
> is truly a family-owned business and supports Pete, his two sons, and 
> their families.
> The Spiropoulos family and Dumm's Corner Market became a victim of the 
> real estate bubble and bust. In 2004, when credit was easy andlenders 
> were handing out money, the family purchased a neighboring building at 
> 4705 Queensbury Road from a credit union. The credit union that was 
> occupying the building and wanted to lease it back from the family. 
> Unfortunately, several years later the credit union decided to leave.
> Fast forward to 2011.  The company and family were being threatened 
> with legal action by the credit union which refused to refinance their 
> mortgage even though they had lent them the funds in the first place 
> and they had never missed a payment. This subjected their business and 
> livelihood to disaster.
> Instead of relinquishing everything they had worked so hard for, the 
> Spiropoulos family decided to turn this problem into a 
> solution.Recognizing the ethnic and economic diversity of the 
> Riverdale area, they wanted a business that catered to everyone's 
> needs.  With the help of the Maryland Small Business Development 
> Center (SBDC) Consultant Christian Olsen, they developed a business 
> plan for a modern convenience store to fit the changed needs of the 
> community.  Instead of holding on to the property as an "investment 
> property," which is a high risk category for lenders, they decided to 
> move their 100 year old store into the larger space at 4705 Queensbury 
> Road.  The new store would cater both to the existing customers and to 
> the diverse needs of the Riverdale area which including families, 
> college students, white-collar and blue-collar workers.
> The business plan, the strength of their ownership, and the SBDC 
> helped them convince another Lender -- BankAnnapolis - to provide 
> financing to take out the credit union and improve the location. In 
> addition, the family is investing a substantial amount of their own 
> money to improve the property, the façade, and the overall aesthetics 
> of Riverdale.  The new store will offer a wider variety of carryout 
> food, beer and wine, and will have an outdoor seating area near the 
> Riverdale MARC station and the center of town.  It is close to the 
> neighboring communities of College Park and Hyattsville.
> For more information Contact:Jim Spiropoulos
> Town Center Market
> 4705 Queensbury Rd
> Riverdale, MD 20737
> (301) 758-3821
> www.towncentermarket.net <http://www.towncentermarket.net>
>
>
> Sent from my iPad
>
>
> -- 
> Vernon Archer, Mayor
> Town of Riverdale Park, Maryland
>
>
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